Metalloinvest Finance Designated Activity Company (IRSH)
Metalloinvest Finance Designated Activity Company: Metalloinvest extends
reserve credit lines and develops green finance
13-Jul-2020 / 11:03 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Metalloinvest extends reserve credit lines and
develops green finance
Moscow, Russia - 13 July 2020 - Metalloinvest ("the Company"), a leading
global iron ore and HBI producer and supplier, and one of the regional
producers of high-quality steel, has signed additional agreements with ING
Bank on the extension of two credit lines for a total amount of USD 200 mn
(or EUR equivalent).
Following additional agreements, the reserve credit lines will be valid for
3 years. The interest rate of one of the credit line in the amount of USD
100 mn (or EUR equivalent) will remain linked to the change in the Company's
Corporate Social Responsibility (CSR) rating from EcoVadis, the
international independent rating agency.
Alexey Voronov, Deputy CEO - Chief Financial Officer of Management Company
Metalloinvest, commented:
"The extension of the existing credit agreements with ING Bank provides an
additional long-term source of liquidity in USD and/ or EUR in the amount of
up to USD 200 mn. At the same time, one of our credit lines worth USD 100 mn
will remain linked to changes in our CSR rating, being actually a green
finance. We expect that the Company's efforts on improving sustainable
development practices will allow us to enhance the conditions of our loan
portfolio in future."
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If you have any questions, please contact us:
Artem Lavrischev
Investor Relations
E: ir@metalloinvest.com
T: +7 (495) 981-55-55, ext. 7243
Metalloinvest is a leading global iron ore and merchant HBI producer and
supplier, and one of the regional producers of high-quality steel. The
Company has the world's second-largest measured iron ore reserve base and is
one of the lowest-cost iron ore producers.
Metalloinvest is wholly owned by Holding Company USM LLC. Alisher Usmanov is
the major beneficiary of Holding Company USM LLC (49%).
ISIN: XS0918297382
Category Code: MSCL
TIDM: IRSH
Sequence No.: 75258
EQS News ID: 1092013
End of Announcement EQS News Service
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July 13, 2020 04:04 ET (08:04 GMT)
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